Deka launches Europe ex EMU ETF
German asset manager Deka has announced the launch of a new ETF, which offers access to European countries which are not part of the eurozone. The fund is now available on Deutsche Börse and Stuttgart Börse.
The fund, which is Ucits compliant, follows the MSCI Europe ex EMU index, which consists of 200 companies, a majority of whom are based in the UK, one quarter in Switzerland and the remainder in Sweden, Denmark and Norway.
As a result of the geographic allocation, the ETF has a relatively significant exposure to energy, commodities, consumer goods and pharma companies. The equities are weighted on the basis of free float market capitalisation.The fund has a total expense ratio of 0.30 %.